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1409 Lawnview Drive Forney, TX 75126

5 Beds 4 Baths 3,462 sqft Built 2020

INVESTimate

$377,169

List Price

$2,750

$2,500 - $3,000

Rent Est.

$398,894  ( +5.76%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Built In 2020
  • Price/Sqft : $108.95
  • 10 Days on Market
  • MLS # : 14415131
  • Updated Date : 08/19/2020 at 04:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,462 sqft
  • Baths : 4 full
Listing Agent

David M. Weekley

Listing Agent's Description

NEW DAVID WEEKLEY HOME in the highly desired Gateway Parks community. The Sagebrook Plan allows your family to enjoy an open concept lifestyle and personal privacy. The kitchen is the heart of the home and offers a HUGE island perfect for entertaining. Large laundry room with folding table, mud room with backback rack. Energy efficient with an excellent warranty.

SEE MORE

MARKET HIGHLIGHTS

  • Dallas metro contributes to 31.9%% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Dallas metro has 67.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)
  • Dallas metro's economy is worth $579 billion in Gross Metro Product and projected to grow to $613 billion in 2019 (USMayors.org, 2018)
  • Home to 20 Fortune 500 headquarters, 39 Fortune 1000 headquarters and 12 of Forbes' top private companies (Fortune)

PRICE & RENT TRENDS

Neighborhood: Grandview Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k426k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Grandview Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262514

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Henderson Elementary School Primary Regular 536 29 7
Warren Middle School Middle Regular 713 39 9
Forney High School High Regular 1,402 88 8

Henderson Elementary School

  • Education Level: Primary
  • # of students: 536
  • # of teachers: 29
7
GreatSchools Rating

Warren Middle School

  • Education Level: Middle
  • # of students: 713
  • # of teachers: 39
9
GreatSchools Rating

Forney High School

  • Education Level: High
  • # of students: 1,402
  • # of teachers: 88
8
GreatSchools Rating
 

$339,452$414,886$377,169

PURCHASE PRICE

$2,475$3,025$2,750

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,750
EXPENSES Loan Payment -$1,392
Property Tax -$864
Property Insurance -$227
HOA -$60
Property Management Fees -$99
CASH FLOW
$108

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$377,169

PROJECTED PRICE

$2,750

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.76%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,950

INVESTMENT

$101,950

Down Payment
$94,292
Rehab Estimate
$2,000
Closing Costs
$5,658

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,392

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $94,292
Loan Amount $282,877
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$28,498

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,750

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,666

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,750
$2,750
RENT COMPS ANALYSIS
  • 1409 Lawnview Drive Forney, TX 2
    • 5 beds 4 baths ∙ 3,462 Sqft ∙ Built 2020 5 beds 4 baths ∙ 3,462 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.79
    •  
  • 15088 Layden Farms Lane Talty, TX 1
    • 4 beds 3 baths ∙ 3,250 Sqft ∙ Built 2019 4 beds 3 baths ∙ 3,250 Sqft ∙ Built 2019
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.77
    •  
PROPERTY LISTING DETAILS
Jimmy Rado
David M. Weekley
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415131
Last Updated: 08/19/2020
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